Evan Carmichael argues 80% of new businesses fail because they lack differentiation. He uses Eminem's story: broke, dismissed as a white rapper, he placed second at the 1997 Rap Olympics and caught Dr. Dre's attention. Find your unique skill, then find the bigger stage where the world sees it.
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Find a bigger stage. A challenge for a lot of entrepreneurs is the product or service that you're selling isn't really all that great or different. It's just average, it's boring, and it's one of the main reasons why 80% of companies will fail. 80% of new businesses will fail in the first 5 years because your stuff is boring. It's just okay, it's average. What you need to do first is find something that's great, something that you can excel at and be one of the best in the world at. And when you find that And for those of you entrepreneurs who are on that path, who are doing something important, who poured your passion into this business that you're creating, and you're not just creating average, okay, get-by products and services, what you're doing is going to change the world. When you get to that point, then you need to find a bigger stage. You need to let the world know about what you're doing and how good you are. One of my favorite stories is of Eminem. And when he was first getting started, he had a tough upbringing. He came from a broken home, his parents weren't together, he lived with various members of his family, bounced around from state to state. He pursued rap because he loved doing it, but he couldn't make any money off of it. He took jobs at restaurants to just make ends meet. But he thought to himself, you know what, I'm really good. I want to make a business out of this. I want to become a professional rapper. Even though at the time there were no white rappers, right? People looked at him and laughed. "You're white? You're rapping? What are you, crazy?" And he felt he was good enough that he needed to find a bigger stage. And his bigger stage moment came in 1997 at the Rap Olympics in Los Angeles. When he went there, he was dead broke. He had nothing. He had no money. He was evicted from his house the day before, and that night he had to break into his house, sleep on the floor just so he had a place to sleep before going to LA for the Rap Olympics. Everything was on the line for him, and he went to the Rap Olympics in LA and he won second place. And that was all he needed. That was the turning point. He went from totally bankrupt, broke, everybody laughed at him, to now being noticed. And Dr. Dre, who was a producer, looked at him, listened to his tapes, and said, "I want to sign this guy." People said, "Dre, you're crazy. Dude's white." He said, "I don't care if he's purple. If he can rap, I want to be working with him." And that was the start of Eminem's career. He put all this work, effort, passion, love into making his rap something meaningful, but it only really took off when he found his bigger stage at the Rap Olympics. So if you're really good at what you do, if you love doing it, if you're, if you're creating something special, you're not just selling an average product or service, there's something unique about what you're doing and it's really making an impact on people's lives, then you need to find your bigger stage moment. And it may be scary, it may mean jumping out of your comfort zone, it may mean doing things that you haven't done before. But if you want to have a real impact, if you want to really build a significant business, if you want to look back on your life and say, yeah, I did that, I'm proud of the, the mark that I left on this world, then you need to embrace the fear, go with it anyway, and find your bigger stage opportunity. Believe. For those of you watching, like the video, you can support me by clicking on the link below in the description. Leave a comment, let me know what you think, and click on my face, subscribe to the channel. Thank you so much. I'll see you soon.
